Maricel Elle Group

Maricel E. is from the village of Naga, Jimenez, Misamis Occdiental. She is 41 years old. Maricel is the group leader of a 2-member group loan offered by PMPC. While each member of the group receives an individual loan, they are each responsible for paying back the loan of their fellow group member if she is delinquent or defaults. The official name of this borrowing group is 'Maricel E. Group'.

Maricel is married and has 2 school-aged children. To make a living, Maricel owns & operates a general store. The main source of income for the business comes from selling a variety of different products in the local community. Maricel has been engaged in her business for over 10 years and earns approximately 1200 PHP a month for these activities.

In 2009, Maricel joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Maricel has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to purchase additional inventory and as working capital. Maricel is requesting a new loan of 14,900 PHP which will be used to purchase additional products to sell. This will be the 3rd loan taken out by Maricel from PMPC. She plans to use the additional revenue generated from the business to improve/expand her business.

About PMPC:

Paglaum Multi-Purpose Cooperative (PMPC) is one of the most progressive cooperatives in northwestern Mindanao. It reaches out to the rural poor using the Grameen model.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Paglaum Multi-Purpose Cooperative

Paglaum Multi-Purpose Cooperative (PMPC) was founded in 1992 by the beneficiaries, parents and staff of the Paglaum Community Development Foundation to address economic and livelihood activities for sustainability. The organization operates in the northwestern provinces of Mindanao and Visayas.

In the local vernacular, “paglaum” means “hope.” The initial foundation is dedicated to child development through a holistic approach. The goal is to build self-reliance and expand opportunity so the poorest of the poor can help themselves.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.